| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP14869 |
| DP14869 Universal Basic Income: A Dynamic Assessment | |
| Raquel Fernández; Diego Daruich | |
| 发表日期 | 2020-06-10 |
| 出版年 | 2020 |
| 语种 | 英语 |
| 摘要 | The idea of universal basic income (UBI)---a set income that is given to all without any conditions---is making an important comeback but there is no real evidence regarding its long-term consequences. This paper provides a very inexpensive evaluation of such a policy by studying its dynamic consequences in a general equilibrium model with imperfect capital markets and labor market shocks, in which households make decisions about education, savings, labor supply, and with intergenerational linkages via skill formation. The steady state of the model is estimated to match US household data. We find that a UBI policy that gives all households a yearly income equivalent to the poverty line level has very different welfare implications for those alive when the policy is introduced relative to future generations. While a majority of adults (primarily older non-college workers) would vote in favor of introducing UBI, all future generations (operating behind the veil of ignorance) would prefer to live in an economy without UBI. The expense of the latter leads to lower skill formation and education, requiring even higher tax rates over time. Modeling automation as an increased probability of being hit by an ``out-of-work'' shock, the model is also used to provide insights on how the benefits of UBI change as the environment becomes riskier. The results suggest that UBI may be a useful transitional policy to help current individuals whose skills are more likely to become obsolete and are unprepared for the increased risk, while, simultaneously, education policies may be implemented to increase the likelihood that future cohorts remain productive and employed. |
| 主题 | Development Economics ; Labour Economics ; Macroeconomics and Growth ; Public Economics |
| 关键词 | Universal basic income Taxation Human capital Labor supply |
| URL | https://cepr.org/publications/dp14869 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/543807 |
| 推荐引用方式 GB/T 7714 | Raquel Fernández,Diego Daruich. DP14869 Universal Basic Income: A Dynamic Assessment. 2020. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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